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Banks must do more, with less, in a challenging environment
In the pursuit of growth, many banks have increased their acquisition efforts and loosened credit risk policies. As a result, the number of accounts going to collections and the amount of debt entering recovery have both grown, and loss provisioning requirements add incremental pressure.
For many collections and recovery shops, staying effective and efficient is a huge challenge, especially with flat or shrinking headcount. Plus, outdated systems and processes can lead to lower job performance and higher attrition, along with more customer friction.
The FICO Collections and Recovery Ecosystem for Banking offers a sophisticated, flexible debt management infrastructure that helps you:
The foundation of FICO’s Collections and Recovery Ecosystem for Banking is the seamless integration of our world-class analytics and strategy development tools and robust decision execution environments. This integration facilitates a "learning loop" that empowers business users to quickly understand the performance of their current treatment strategies and to develop, test and deploy refined challenger strategies that will drive more satisfying customer experiences and more profitable business outcomes.
Solving your biggest and most complex business problems.
FICO Optimization Community
A highly automated accounts receivable management system to help control costs, boost revenue and stay compliant.
FICO Collections & Recovery Community
Make more profitable customer and account decisions.
FICO TRIAD Community
One direct, efficient and secure desktop connection to creditors, partners, agencies and data sources.
Gives credit grantors unprecedented visibility and control of accounts placed with agencies, attorneys, debt buyers and internal recovery departments.
Banks, credit unions, and other lenders are constantly challenged to lend responsibly, improve customer experience, increase profitability, and advance their competitive positions. Achieving these goals without taking on more credit risk, ...
The promise of digital technology—more efficient operations and more compelling, personalized customer interactions—is transforming huge swaths of the financial services industry. Debt collection—by contrast—feels like it has been standing...
Consumer lenders invest considerable resources to figure out how best to target their marketing efforts and create frictionless application and loan origination processes. Since competition across banks, credit unions, and emerging nonbank...
The way most banks try to boost performance is like walking around a dark room with a dim flashlight. Only able to see a few steps ahead in one direction, they select and test a new strategy. If it’s successful, they roll it out and start ...